Saudi unemployment falls to lowest level on record in Q2
Unemployment in Saudi decreased to the lowest level on record, registering 9.7 percent in the second quarter, compared to 10.1 percent in Q1 2022, according to data from the General Authority for Statistics (GASTAT).
The rate of joblessness among citizens fell from 11.3 percent in the second quarter of 2021 and eased by 0.4 percentage points quarter on quarter. Overall unemployment in the Kingdom stood at 5.8 percent in Q2, down from 6.6 percent a year earlier.
The labor force indicators in the second quarter of 2022 showed an increase in the total labor force participation rate (for Saudis and non-Saudis) as it reached 60.8 percent compared to 60.4 percent in the first quarter of 2022.
The Saudi labor force participation rate has also increased in the second quarter of 2022, reaching 51.8 percent compared to 50.1 percent in the previous quarter.
Moreover, the Labor Market report for the second quarter of 2022 showed an increase in the labor force participation rate for Saudi females in Q2 2022 reaching 35.6 percent compared to 33.6 percent in the previous quarter. The labor force participation rate for Saudi males has also increased in the second quarter of 2022, reaching 67.5 percent compared to 66 percent in the previous quarter.